- Landing — the company behind the first membership for flexible long-term living — announced it raised $100 million in funding. These are the details.
Landing — the company behind the first membership for flexible long-term living — announced it raised $100 million in funding. This funding is comprised of a $45 million Series B round of funding led by Foundry Group with participation by Greycroft and Maveron and a $55 million debt facility. With this infusion of capital and a rapidly growing membership base, the company will continue expanding its growing network of apartments to new markets across the country.
Landing has quickly accelerated its business to meet the new demand associated with the pandemic and an increasingly mobile workforce. And since March 2020, Landing has more than doubled its expansion plans for the year, surpassing over 10,000 apartments in 75 cities across the country. This rapid growth is underscoring the massive opportunity that Landing uniquely meets in the market and offers a glimpse into the more flexible lifestyles people will desire in the future.
The $45 million Series B round is led by Foundry Group with participation by Greycroft and Maveron, both of which participated in the company’s Series A round in February 2020. And Landing’s investors bring unique expertise and a track record of backing premier brands focused on reshaping consumer experiences and will be instrumental in Landing’s continued growth and maturity into a global brand.
KEY QUOTES:
“Landing is fundamentally changing how people are able to live, The demand for more dynamic living experiences will continue to grow as work becomes more flexible and people have more freedom to work remotely. With this new funding and the support of our incredible venture partners, Landing will continue to lead the industry into the future of living – one that we believe is a simple, seamless experience that empowers people with freedom and flexibility.”
— Bill Smith, Chief Executive Officer and Founder of Landing
“Bill has a keen eye for recognizing when industries are on the cusp of innovation, and the tide was no different with Landing. The growing need for more nimble living solutions is clear and Landing’s unique offering fills a massive opportunity in the market. With Bill’s exceptional leadership and passion for building better solutions to common problems, we’re confident that Landing will keep on its path of exponential growth in the coming years.”
— Chris Moody, Partner at Foundry Group
